In series of X posts, Finance Minister Nirmala Sitharaman highlights 'banking sector turnaround from non-performing assets crisis created by UPA to Rs 3 lakh crore profits in FY24'.
The RBI has clarified that the penalty is not intended to pronounce upon the validity of any transactions or agreements that the bank has entered into with its customers.
RBI has made it more costly to lend & borrow unsecured loans. One reason is financial risk these loans can pose, while another is harassment of borrowers by recovery agents.
Indian banks, regulators, and investors weren’t worried when crises began exploding in US and European banks earlier this year. This resilience has been a long time coming.
In FAQ document, RBI says its new guidelines won't stop penal proceedings against wilful defaulters & that recoveries will continue even if loans are technically written off.
In anticipation that consumers will ease their purse strings during festive season, banks including SBI & HDFC have slashed home loan rates to the lowest level in a decade.
HDFC's retail loans grew around 9.3 per cent slower than its overall book's 14.4% in the June quarter, much lower than SBI (16.5%) & ICICI (20%) growth in that portfolio.
The proposed bad bank or NARCL will pay up to 15% of the agreed value for the loans in cash and the remaining 85% would be government-guaranteed security receipts.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Corps commanders signed an agreement on 21 October to pull back troops from eastern Ladakh’s two face-off points, following efforts on diplomatic front to ease tensions along LAC.
Congress is silently acknowledging it over-read verdict of last general election. You can see it in easy concession to SP. It will likely be more reasonable in Maharashtra & Jharkhand.
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